Crypto Prices Today: Bitcoin slips below $108,000; Altcoins trade mixed

Bitcoin dipped below $108,000 on Wednesday, trading at $107,954 as of 12:47 PM IST, after touching an intraday low of $106,812. The global crypto market capitalisation declined 0.26% to $3.42 trillion, according to CoinMarketCap.

Ethereum, in contrast, gained 3.5% to $2,728, supported by technical strength and positive momentum. Among altcoins, Solana, Tron, Sui, Hyperliquid, Chainlink, and Stellar fell up to 3%, while BNB, Dogecoin, Cardano, Avalanche, and Shiba Inu rose as much as 2%.

“Bitcoin bounced back after testing support near $106,800,” said Alankar Saxena, Co-founder and CTO of Mudrex. He noted that the market is anticipating fresh liquidity from FTX’s $5 billion creditor payouts, which could boost both Bitcoin and Ethereum. Additionally, $2.4 billion worth of Ether options are set to expire this week, potentially supporting ETH’s attempt to break above the $3,000 level.

Riya Sehgal, Research Analyst at Delta Exchange, said Bitcoin is currently ranging between $106,500 and $110,000. “A breakout above $110,000 could signal continuation, while a dip below $106,500 may open downside toward $104,000,” she said, adding that market structure remains “neutral to slightly bullish.”

While retail sentiment has turned cautious amid geopolitical tensions and U.S. tariff concerns, institutional flows continue to support the market. Sehgal highlighted that BlackRock’s iShares Bitcoin Trust alone saw $970 million in inflows on May 28, contributing to over $3 billion in total ETF inflows last week.

Shivam Thakral, CEO of BuyUcoin, attributed some of the recent selling pressure to profit booking by short-term holders. “The Crypto Fear & Greed Index indicates heightened fear, suggesting the market may remain choppy in the coming weeks,” he said.

Ethereum shows relative strength

Ethereum has managed to hold above $2,720, supported by its 100-hour simple moving average and a key trend line at $2,610. Sehgal noted that ETH appears stronger than Bitcoin near critical levels, with resistance seen at $2,780, $2,800, and $2,840. A break above $2,800 could open the way to $2,950, she added.

Meanwhile, Bitcoin’s dominance fell to 62.7%, with a market cap of $2.145 trillion. Daily trading volume declined 2% to $50.73 billion.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)